A Grantor Charitable Lead Annuity Trust (CLAT) is an irrevocable split-interest trust that provides for a specified amount to be paid to one or more charitable beneficiaries during the term of the trust. The principal remaining in the trust at the end of the term is paid over to, or held in a continuing trust for, a non-charitable beneficiary or beneficiaries identified in the trust. If the terms of a CLAT created during the donor's life satisfy the applicable statutory and regulatory requirements, a gift of the charitable lead annuity interest will qualify for the gift tax charitable deduction under § 2522(c)(2)(B) and/or the estate tax charitable deduction under § 2055(e)(2)(B). In certain cases, the gift of the annuity interest may also qualify for the income tax charitable deduction under § 170(a). The value of the remainder interest is a taxable gift by the donor at the time of the donor's contribution to the trust.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Fulton Georgia Inter Vivos Granter Charitable Lead Annuity Trust is a financial instrument that combines the benefits of a charitable lead trust with the advantages of an annuity trust. It allows individuals to contribute assets to a trust and receive income from the trust while also benefiting a charitable organization. The Fulton Georgia Inter Vivos Granter Charitable Lead Annuity Trust operates by the granter transferring assets to the trust, and the trust pays a fixed annuity to the designated charitable organization for a specified period. At the end of the trust term, the remaining assets are transferred to the granter or other chosen beneficiaries. There are several types of Fulton Georgia Inter Vivos Granter Charitable Lead Annuity Trusts, including: 1. Charitable Lead Annuity Trust (FLAT): This type of trust pays a fixed annuity to the charitable organization for a set term, with the remaining assets eventually passed on to the granter or beneficiaries. 2. Charitable Lead Unit rust (CLUB): Unlike a FLAT, a CLUB pays a fixed percentage of the trust assets to the charitable organization. This means that if the trust assets grow, the charitable payments also increase, offering potential inflation protection. 3. Flip Charitable Lead Trust: This trust starts as a charitable lead trust and converts to a granter annuity trust after a specific triggering event, such as the sale of a particular asset. This structure provides flexibility and tax benefits for the granter. 4. Granter Retained Annuity Trust (GREAT): Although not specifically named as an Inter Vivos Charitable Lead Annuity Trust, a GREAT can be structured to include a charitable lead element. A GREAT allows the granter to transfer assets into the trust and receive a fixed annuity payment for a specified term. After the term ends, the remaining assets go to the designated charitable organization. 5. Granter Retained Unit rust (GUT): Similar to a GUT, this trust distributes a fixed percentage of the trust assets to the granter while benefiting the charitable organization. The remaining assets pass on to the beneficiaries or granter after the specified term. These different types of Fulton Georgia Inter Vivos Granter Charitable Lead Annuity Trusts provide individuals with various options to structure their charitable giving and financial planning. It is advisable to consult with a financial advisor or estate planning attorney to determine the most suitable trust type based on individual circumstances and goals.Fulton Georgia Inter Vivos Granter Charitable Lead Annuity Trust is a financial instrument that combines the benefits of a charitable lead trust with the advantages of an annuity trust. It allows individuals to contribute assets to a trust and receive income from the trust while also benefiting a charitable organization. The Fulton Georgia Inter Vivos Granter Charitable Lead Annuity Trust operates by the granter transferring assets to the trust, and the trust pays a fixed annuity to the designated charitable organization for a specified period. At the end of the trust term, the remaining assets are transferred to the granter or other chosen beneficiaries. There are several types of Fulton Georgia Inter Vivos Granter Charitable Lead Annuity Trusts, including: 1. Charitable Lead Annuity Trust (FLAT): This type of trust pays a fixed annuity to the charitable organization for a set term, with the remaining assets eventually passed on to the granter or beneficiaries. 2. Charitable Lead Unit rust (CLUB): Unlike a FLAT, a CLUB pays a fixed percentage of the trust assets to the charitable organization. This means that if the trust assets grow, the charitable payments also increase, offering potential inflation protection. 3. Flip Charitable Lead Trust: This trust starts as a charitable lead trust and converts to a granter annuity trust after a specific triggering event, such as the sale of a particular asset. This structure provides flexibility and tax benefits for the granter. 4. Granter Retained Annuity Trust (GREAT): Although not specifically named as an Inter Vivos Charitable Lead Annuity Trust, a GREAT can be structured to include a charitable lead element. A GREAT allows the granter to transfer assets into the trust and receive a fixed annuity payment for a specified term. After the term ends, the remaining assets go to the designated charitable organization. 5. Granter Retained Unit rust (GUT): Similar to a GUT, this trust distributes a fixed percentage of the trust assets to the granter while benefiting the charitable organization. The remaining assets pass on to the beneficiaries or granter after the specified term. These different types of Fulton Georgia Inter Vivos Granter Charitable Lead Annuity Trusts provide individuals with various options to structure their charitable giving and financial planning. It is advisable to consult with a financial advisor or estate planning attorney to determine the most suitable trust type based on individual circumstances and goals.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
